SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

3 main barriers to widespread analytics use in healthcare organizations

Healthcare organizations are becoming proficient at creating and storing terabytes of data each month. Unfortunately, their skills to transform that data into knowledge and useful information are not quite so impressive.

The major primary obstacles to widespread analytics adoption are:-

·         Culture does not encourage sharing information.

·         Lack of understanding how to use analytics to improve the business.

·         Ownership of the data is unclear or governance is ineffective.

Please go through the link for more details:

http://healthcareanalytics.info/2013/11/three-main-barriers-to-widespread-analytics-use-in-healthcare-organizations/#.UyhkhqIyX4s

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HR analytics: Haves and Have-Nots

An article by Josh Bersin, HR and talent management consultant, explains how some companies have used HR analytics to bring about a positive change in their organization and how some companies are still dealing with data management and reporting complexities.

For More Information:- 

http://www.forbes.com/sites/joshbersin/2013/10/07/big-data-in-human-resources-a-world-of-haves-and-have-nots/
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Think improvement! Think about focusing on Lean Six Sigma!

As most manufacturing firms know, Lean Six Sigma is a proven way to improve operations. It works best when initiatives are aligned with the broader strategic goals of the company.  However, Six Sigma initiatives must be aligned directly to a company's business goals. Senior leaders face a lot of challenges as they try to connect day-to-day activities with strategy. Lean Six Sigma initiatives address these strategic gaps and issues, generating breakthrough performance. Leading companies, that have adopted the Six Sigma methodology, have seen major improvements in their processes. Initiatives are originally sought by adopting what we call a Focused Lean Six Sigma approach. This approach takes a different perspective to create long-lasting change.

For call centres too, to make your task easy, there are different performance management solutions that you can put to use to know various aspects – out of which you can make out areas of improvements. But for this, you have to know how to use your performance management solution. Read more at:  

http://www.callcentrehelper.com/trade-secrets-getting-the-best-from-your-performance-management-solution-60462.htm

GoSigmaWay Consulting Services [www.gosigmaway.com] offers various training programs on “Lean six sigma”, apart from their arsenal of cutting edge consultancy solutions to enable your organization achieve its performance goals.

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Big Data: the next big thing in the Financial Services

Big Data was the talk of the town in 2013 and the trend is likely to continue in 2014 as well. Though Big Data has been used in the finance domain earlier, it has been limited.But this year it is expected to take a giant leap in terms of its applicability.

Using the power of social media and analyzing the vast amounts of data generated by them, financial companies can directly interact with their retail clients to provide them with an insight to the customers’ experience. Finance sector being data-centric, Cloud technology will help companies store large volumes of data which was otherwise not feasible given the cost and technological setup constraints. The sophisticated mobile technology will help in generating more data from the customers within an exceptionally short span of time. And finally, Analytics will do the most interesting part – forecasting and predicting results with the help of Predictive Modeling and beyond. Together, the Social, Cloud, Mobile and Analytics (SMAC) will close in and will redefine the financial sector operations.

Additionally, Big Data and Analytics will be used more and more in solving different financial cases and also studying investment practices with the help of Semantic Analytics.

 For more information,read http://www.wallstreetandtech.com/data-management/big-data-use-cases-across-financial-serv/240165075 to know on how Big Data is about to change the Financial world.

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What your Analytics software is hiding from you

While various Analytics softwares help you to track & get basic traffic and visitor data, they also have few yet hazardously significant holes. There are many reasons for getting irrelevant, non required and Null/missing data. Some examples of the areas from which you might be getting conflicting data are Internal Traffic, Direct Traffic, Mobile Traffic, Private Browsing Traffic, Keyword Traffic, Social Media etc.

To know more, visit the following link:

http://blog.kissmetrics.com/what-analytics-is-hiding/

 

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Recent Comments
SOHAM SRIMANI
Friends, do check it out.
Monday, 24 March 2014 10:30
Nitin Sinha
with analytics, main concern is privacy of data collected. cloud solutions offers the same danger.
Tuesday, 25 March 2014 15:46
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The potential value of predictive analytics in HR

 HR predictive analytics empowers a company to anticipate and prepare for the future. There is a continuous growth in the use of predictive analytics for the last few years. Studies have shown that predictive analytics act as a decision support system, enabling managers to take best decisions, resulting in an average of 5-6% higher gains than competitor companies.

Predictive Analytics 

For more information follow

http://resources.rpoassociation.org/blog/bid/327375/The-Potential-Value-of-Predictive-Analytics-in-Human-Resources                

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SOHAM SRIMANI
Human resource is one of the important functions within an organization. Better it is, better employee satisfaction.
Monday, 24 March 2014 11:11
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Adoption of cloud computing in call centers

Nowadays businesses are adopting cloud computing technology to enhance customer satisfaction in call centers. This technology helps the employees by providing updated information about the customers which allow them to easily manage customer needs. A cloud based call center also offers better return on investment. The employees can access the cloud from anywhere with an internet connection which helps in reducing costly on-site installations.

For more information follow

https://www.fonality.com/industry-news/what-are-benefits-moving-call-center-cloud

 

 

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Nitin Sinha
good work.
Thursday, 27 March 2014 15:59
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For healthcare analytics, you need to have goals in sight

 

In USA, approx. 8o% of hospitals are using electronic health records, due to which it is possible to gather useful information for research & development. Now healthcare industries are actively looking for transformation of its major areas by meaningful use of analytics.

To know about its challenges and impact, please go through the link: http://ehrintelligence.com/2014/03/17/for-healthcare-analytics-you-need-to-have-goals-in-sight/

 

 

 

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Stabilisation of the banking industry

The main cause of 2007-2009 recession was bursting of real estate bubble. But it was the banking crisis which led the U.S. economy to a far worst situation. Now the key question is whether banking industry is able to solve their problems. Losses suffered by banks created a number of fundamental problems in the industry. An article by Michael Sivy, a chartered financial analyst and a former securities analyst for an independent stock research firm, speaks about the needs to be addressed to get financial system back to full strength.

For more information, please go through: http://business.time.com/2013/02/05/has-the-banking-industry-really-been-fixed/

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The power of predictive analysis

 “The future is like a corridor into which we can see only by the light coming from behind”, well said by Edward Weyer Jr..  Like that, to analyze anything, the first step is to collect relevant data and develop predictive score for each element, the second step is to assess these predictive score and then implement it into a model. Finally prediction and conclusion can be made accordingly.  The book, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die by Eric Siegel explains how predictive and other insights associated with predictive analysis work.

Please go through the link for more details:

http://www.amazon.com/Predictive-Analytics-Power-Predict-Click/dp/1118356853

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Consequences of mergers and acquisitions in banking sector

The international banking and financial sector had gone through a major turmoil in terms of mergers and acquisitions. Deregulation has been the main driver, through three major routes - breakage of interest rate controls, removal of barriers between banks and other financial institutions and lowering of entry barriers. The article by Srinivasan R., an associate professor in the Corporate Strategy and Policy Area at IIM Bangalore, speaks about the benefits and disadvantages of post 2000 mergers and acquisitions in India.

For more information, please go through: http://tejas.iimb.ac.in/articles/01.php

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Majority of Americans say the healthcare system isn't in a crisis

Through a study, Gallup (research organisation) found that two thirds of the Americans are satisfied with the current health care system. People who own insurance schemes are more satisfied with the current health care system compared to others who don’t have insurance schemes. According to Gallup, health care insurance status plays an important role in the life of an American. Researchers also found that most of the young and old people like the present health care system. The article by Laura Matthews, U.S political reporter for the International Business Times, speaks about the Americans’ reaction towards the current health care system.  

 

For more information please visit http://www.ibtimes.com/majority-americans-say-healthcare-system-isnt-crisis-1561795

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A"social strategy"- branding through social media!

Recently, Harvard Business Professor Mikołaj Jan Piskorski, spoke about marketing strategy implementation through social media during a conversation with marketing guru & author Mr. Steve Olenski.

Drawing on his analysis of proprietary data from social media sites, Piskorski argues that the secret behind every successful organization is that they allow people to fulfil social needs that either can’t be met offline or can be met only at a much higher cost. This insight provides logic about how companies can leverage social platforms to create a sustainable competitive advantage. Companies need to help people interact with each other, before they promote products to their friends. If all goes fine and right steps are followed, a company’s social media should benefit its customers as well as the firm. Piskorski calls this ‘a social strategy’.

To read more visit the following link:

http://www.forbes.com/sites/steveolenski/2014/03/17/social-media-and-branding-a-one-on-one-with-a-harvard-business-professor/

SigmaWay Consulting Services offer various solutions to help you align your social media efforts to your business goals, from brand awareness to targeting customer base to increase customer satisfaction. For more information, please visit http://www.gosigmaway.com/index.php?option=com_content&view=article&id=87&Itemid=555

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Application of graph search

Max De Marzi, software field engineer with Neo Technology, inspired by Facebook’s graph search, talks about how use of graph search adds value to the enterprise by making practical use of big data. He also indicated how this technology can be applied to solve business problems.

For more information follow

http://searchsoa.techtarget.com/news/2240215892/Facebook-inspires-enterprise-to-use-big-data-graph-searches?asrc=EM_NLN_27254566&utm_medium=EM&utm_source=NLN&utm_campaign=20140317_Facebook%20inspires%20enterprise%20to%20use%20graph%20searches_cdelacvivier&track=NL-1839&ad=892421

 

 

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5S Program: What is it?

In the Six Sigma domain, 5S Program is a valuable continuous process improvement in reducing waste. The process of 5S was started in Japan to engage process teams. The 5S consist of: Sort – Straighten – Scrub – Standardize – Sustain. For an effective 5S program, it is important that all the steps are carried sequentially. Also, it is important that the management must motivate its employees to carry the 5S Program on a regular basis and must review the processes from time to time.

 

To know more on how a 5S Program helps to add value to the organizations, follow the link http://www.isixsigma.com/tools-templates/5s/a-model-for-implementing-a-5s-program/?type=LINL .

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Analytics in monitoring call center agents

 

Laura Noonan, Marketing team lead at CallFinder, talks about how important  it is to monitor the call center agents for providing customer satisfaction. She also emphasized that the companies must also provide equal priority to employees, ensuring the satisfaction with their role. She also speaks about the different advantages of monitoring calls between the customers and agents.

For more information follow

http://www.callcentertimes.com/Home/tabid/37/ctl/NewsArticle/mid/395/CategoryID/1/NewsID/723/Default.aspx

 

 

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Technology: reshaping branch banking!

 

Today, technology is an integral part of any business looking for sustainable growth. Banking sector is no different. Handling branches is an important day-to-day operation and hence, banks need to deploy adequate resources for the same. From simplifying payments with person-to-person transfers to eliminating the need for passwords with voice recognition software, technology is revolutionizing how account holders manage their money. The result is that bank branches are looking less crowded.

To read more, visit:

 

http://www.nasdaq.com/article/4-ways-tech-will-change-your-bank-branch-cm329072

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payel
interesting!
Monday, 24 March 2014 07:57
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What’s Behind the Growing Trend of PEO industry!


 According to the National Association of Professional Employer Organizations (NAPEO), employment growth has increased by 9 percent higher than other small businesses.
The Florida Association of Professional Employer Organizations (FAPEO) identified the reasons behind the growth of PEO industry. These are controlling costs
, saving time and paperwork hassles, providing professional compliance ,reducing turnover and attracting better employees, providing claims management compensation, providing better benefits packages, providing professional human resource services , reducing accounting costs.

To read more, Visit: http://www.broadwayworld.com/bwwgeeks/article/More-Businesses-Rely-on-Professional-Employer-Organizations-to-Increase-ProfitsiPEO-Solutions-Identifies-Whats-Behind-the-Growing-Trend-20140214#.UyF1TT-SyZY  

 

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Analytics in election process

An article by Mr. George Shen, information strategist and consultant with Deloitte Consulting, explains how analytics has become an inseparable part of any election process nowadays.

For More Information please visit

http://www.analytics-magazine.org/january-february-2013/731-big-data-analytics-and-elections

 

 

 

 

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Analytics:- A driving force in HR industry

This whitepaper describes how HR Analytics is helping core HR business processes to make right business decisions.

For More Read Information : 

https://www.informationweek.com/whitepaper/Business-Intelligence/Analytics/hr-analytics-driving-return-on-human-capital-inv-wp1300214171928?articleID=182900009
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